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3232The Postal Service Should Steer Clear of Bankinghttps://news.lendit.com/2018/12/06/the-postal-service-should-steer-clear-of-banking/
https://news.lendit.com/2018/12/06/the-postal-service-should-steer-clear-of-banking/#respondThu, 06 Dec 2018 16:37:35 +0000https://news.lendit.com/?p=15556A new report by Treasury says the United States Postal Service is not equipped to handle the risks of banking and therefore it should stay out of the space; “Given the USPS’s narrow expertise and capital limitations, expanding into sectors where the USPS does not have a comparative advantage or where balance sheet risk might arise, such as postal banking, should not be pursued,” the report states according to American Banker; many banks are also in opposition to the idea but it has gained some traction among potential democratic presidential nominees as they believe the USPS can provide more affordable credit than payday lenders. Source.
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